Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
The property market pessimists are crying capital growth in the Australian property market is dead forever and the only direction prices will go are down. Yet year after year there are properties that prove them wrong.
Much has been spoken about the global property market and that our market will ultimately follow a similar fate and I am always at pains to point out not all property is created equal. This applies to most cities around the world.
Take a look at the two properties below. The property on the left is located in the bluest of blue chip suburb of South Yarra. The one on the right is located in London’s equivalent blue chip area of Kensington.
Click to enlarge
<a href="/images/stories/2013/06/armstrongjune19one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/06/armstrongjune19onethumb.gif"></a>
The apartments are very similar in terms of character and size as the floor plans below illustrate.
Click to enlarge
<a href="/images/stories/2013/06/armstrongjune19two.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/06/armstrongjune19twothumb.gif"></a>
The South Yarra property recently sold for $520,000 and the London apartment has a value of a million pounds or $1.7 million. This means a comparable one-bedroom apartment in London is worth more than three times as much as the one in Melbourne.
There is a perception that growth for this London apartment has run out of steam but the statistics suggest otherwise.
In recent years the UK market as a whole has been weak with property prices falling slightly. According to Nationwide property prices have slipped back by 2.76% over the last 12 months. However this is in stark contrast to the market in Kensington that has grown by a whopping 15.8% in the 12 months to March.
I am not suggesting our market is the same as London’s given their population is double ours. In addition their market is much older, more established and on the doorstep of Europe. However our blue chip markets are driven by the same demographic factors and are following a similar path of growth and demand.
When I attend an auction for an apartment like this one in South Yarra I often see the same cross section of buyers competing.
I often see a young people bidding who are being backed up by their parents' wealth. More often than not they have grown up in the area and want to stay close to their family roots. The next group are the baby boomers that are downsizing and again want to stay close to their social networks. The last group are investors who want a safe blue chip investment that will always have strong tenant demand.
These three groups represent the most powerful financial muscle in our economy and they have the capacity to continue to drive growth in these markets.
There is no doubt that properties with these demographics factors driving their value will continue to grow in the coming years and this South Yarra property will be worth close to $1 million or more in the next 10 years or so.
The property pessimists will say I have just picked the eyes out of the market and isolated one example of a property that will preform well in coming years. That is precisely what I have done because identifying the small percentage of good assets in any market is exactly what educated investing is all about.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
</body></html>

marmstrong-sd3emVLPPb

Still room for growth in blue chip suburbs so long as you make good decisions: Mark Armstrong

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The Sunnybrook Hotel in Warwick Farm in Sydney's southwest will be refurbished and open in September as a Holiday Inn Warwick Farm.
It will be the twenty-second Holiday Inn in Australia.
This follows a franchise agreement between InterContinental Hotels Group (IHG), which own the Holiday Inn brand and Oscars Hotels, which acquired the 146-room hotel in April 2011.
The refurbishment will include the guest rooms and restaurant.
IHG is expanding its presence in Australia with its first Holiday Inn Express to open in Perth in 2015 and with plans for around <a target="_blank" href="https://www.propertyobserver.com.au/leisure/perth-to-get-first-holiday-inn-express-as-city-occupancy-rate-hits-85/2013032760099">40 new Holiday Inn Expresses</a> to be build or developed over the next 10 years.
It has also partnered with hotel developer Jerry Schwartz to develop the Crowne Plaza hotels in the Hunter Valley and Newcastle as well as with Eureka Funds Management on other projects.
Recent refurbishment and rebranding projects include transforming the Clarion Hotel in Parramatta into the Holiday Inn Parramatta. 
<a target="_blank" href="https://www.sunnybrook.com.au/">Located at 355 Hume Highway Warwick Farm</a> on the site of the old Sunnybrook Winery, the revamped hotel will aim to meet the needs of the growing commercial and leisure based industries of south west Sydney. 
The hotel facilities include an all-day dining restaurant, a tavern adjacent to the hotel with gaming facilities, gymnasium, a meetings and events centre, heated outdoor swimming pool and generous onsite parking. 
Following the refurbishment of all guest rooms and the hotel restaurant, the gymnasium and swimming pool will be fully upgraded, as will the adjoining Oscars Tavern and the meeting and events centre (both due for completion in early 2014). 
Warwick Farm is close to the suburbs of Liverpool, Chipping Norton, Cabramatta and Moorebank.  It’s also central to leisure attractions such as Warwick Farm Racecourse and Warwick Farm Polo Fields. 
“The signing of Holiday Inn Warwick Farm is significant to our strategy of expanding the Holiday Inn brand across New South Wales," says  IHG Australasia head of development, Phil Kasselis. 
"The Liverpool local government area has been earmarked by the state as a major regional centre in Sydney, and this Holiday Inn will be ideally positioned to cater to growing demand for hotel accommodation there, offering a great guest experience” he adds. 
Bill Gravanis, owner of Oscars Hotels says the hotel will create a "real opportunity to significantly increase its share of corporate, meetings and leisure business in Sydney’s south west" .
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Sydney's southwest to get Holiday Inn with Sunnybrook Hotel makeover

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Prince Charles has reportedly spent £38 million on an industrial depot in Brinklow, Milton Keynes as part of £102 million property acquistions over the past four years, The Independent, has revealed.

The purchase of the vast supermarket warehouse was through the Duchy of Cornwall estate.
The newspaper reported it was one of the single largest acquisitions by the Duchy of Cornwall in its 670-year history.
It was completed 18 months ago but has been kept from being made public as Clarence House has declined to disclose any details of the expensive acquisition due to what the Prince's officials said was the Duchy's "private" status.
The Prince bought the sprawling grey warehouse complex in Milton Keynes from an Anglo-Indian property fund.
His tenants are Waitrose, who are using the depot as a lorry distribution hub. Waitrose Limited is an upmarket chain of British supermarkets, forming the food retail division of Britain's largest employee-owned retailer, the John Lewis group.
Under an arrangement which is now being scrutinised by Bristish MPs, the Duchy is exempt from capital gains and corporation tax.
Charles voluntarily pays income tax.
An investigation by The Independent revealed that the Duchy, which is one of Britain's largest private estates and owns more than 50,000 hectares of land, conducted property transactions worth at least £102 million between 2009 and last December.
Any sale or purchase by the Prince worth more than £500,000 must be approved by the Treasury.
The Duchy's holdings worth £693 million stretch across 23 counties.
They include most of the Scilly Isles, Dartmoor Prison, the Oval cricket ground in central London and a Holiday Inn in Reading.
It also owns the Prince's private homes such as Highgrove.
Waitrose has recently expanded its Milton Keynes space with another 318,000 square foot plus distribution centre, located in Snelshall West, Milton Keynes through Colliers International.  Waitrose took a five-year lease at a rental rising to £5.95 per sq ft, and will continue to occupy its nearby Brinklow facility, which will now concentrate on fresh foods.
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Prince Charles invests in UK industrial warehouse

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Perceptions about Australian property being overvalued are significantly higher among first-home buyers then owner-occupiers, the latest QBE LMI Mortgage Barometer shows.
This was one of the key findings of the report, which found an overall improvement in sentiment about the property market with more than a quarter (26%) of Australians looking to buy property in the next 12 months despite nearly one in two believing it to be overvalued.
More than three quarters (76%) of first-home buyers believe property is overvalued with nearly half (48%) believing prices are overvalued by more than 10%.
Click to enlarge
<a href="/images/stories/2013/06/qbejune19one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/06/qbejune19onethumb.gif"></a>
In comparison just 41% of owner-occupiers and 48% of Australians believe property prices are overvalued, according to the online survey of 1,107 adult Australians responses of which 763 have a mortgage, 680 considering buying property and 399 qualifed as both.
This finding combined with concerns about changes to first-home buyer grants favouring new homes only and another finding from the survey - 69% of FHB respondents worry they’ll never be able to afford their own home – provide insights into why the segment of the market has shrunken in recent times.
Other findings from the report suggest a frustrated first-home buyers market despite recent improvements in affordability.
The report quotes ABS figures showing that since February 2013, the number of FHBs as a percentage of total owner-occupied housing commitments has fallen by more than 5% since September 2012 and now sits at 14% nationally, an eight year low. .
This is due to record low FHB commitments in NSW and QLD (both less than 10%) – a plunge of more than 10% since the grants were replaced, while other states saw FHB commitments rise.
"There are concerns that Victoria will follow suit as it replaces its First Home Owner Grant with a $10,000 newhome owner grant as of 30 June 2013," says the report.
Figures compiled the<a href="/news"> Real Estate Institute of Australia (REIA)</a> found the number of home loans to NSW first-home buyer in the March quarter totalled 2,647 - 57% lower than a year ago and a 40.6% fall in the March quarter alone.
This was the largest annual decline recorded across the country but in line with a national trend of dwindling first-home buyer demand.
In Queensland, a state which has also cancelled its first-home owner grant in favour of a $15,000 handout for new homes in September last year, home loans to first-home buyer decreased by 43.7% over the March quarter  to 2,557 - the largest quarterly decline across the nation the REIA found.
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Overvalued, unaffordable property keeping first-home buyers on the sidelines: QBE LMI survey

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A two bedroom, one bathroom Waterloo, Sydney house with bespoke renovation concepts, has been sold for $868,000.
It sold through Ercan Ersan at BresicWhitney whose marketing suggested $800,000 plus.
The 138 square metre property comes with landscaped outdoor areas that have transformed the city-fringe terrace.
It cost $400,000 in 2004.
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Bespoke secures $868,000 in Waterloo

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American-style diner and hot dog specialists Massive Wieners has leased a 90 square metre shop space on Chapel Street in Prahran previously leased by fashion retailer Eurotrash.
Massive Wieners, which claims to make the ‘World’s Biggest Wiener’ will move from its current smaller space at nearby Greville Street, where the outlet has established a cult following, to the new store at 226 Chapel Street.
Eurotrash is moving to a shop across the road.
Last year the owners of Massive Wieners Dave Brennan and Liam Magee <a href="https://www.facebook.com/photo.php?fbid=10151177317333928&amp;set=a.10150176541668928.330431.375498923927&amp;type=1&amp;theater">created a 25-inch (63.5-centimetre) hotdog roll.</a>
The 90 square metre shop was acquired in February this year by a private investor, who also acquired a similar sized shop next door at 224 Chapel Street in off-market sales negotiated by Charles Emmett and Kiran Pillai of Fitzroys.
The sale price was not disclosed.
The 226 Chapel Street store brings in rent of around $57,360 per annum.
The leasing deal, which will  see the diner occupy the ground floor over seven years with two further seven-year extensions, was negotiated by Fitzroys leasing agent Harry Curtis,
Curtis said Massive Wieners intended on opening a 24-hour traditional American-style diner, featuring their 1940s inspired “less is more approach”.
“The new Massive Wieners will bring a unique flavour to the area, with the landlord keen to see them open up at the location because of his enthusiasm for the concept,” he added.
Curtis said food retailers were taking a rising amount of space throughou Melbourne’s retail strips and shopping precincts.
Massive Wieners has catered for large organisations such as the AFL, L’Oreal, Vans Shoes, Microsoft/Xbox and MTV, and has appeared at The Melbourne Food and Wine Festival, St Kilda Festival 2013, Melbourne Central and Westfield.
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Chapel Street landlord swaps Eurotrash for Massive Wieners American-style diner

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Australia’s largest building materials provider, Boral, is reportedly seeking to move its head office out of the Sydney CBD to cheaper and smaller office space in either Chatswood or North Ryde.
Boral currently leases floors 38 and 39 in a 43 storey Bridge Street building but is already sub-leasing half of the 2,500 square metre space, reported The Australian.
It follows Boral cutting 11,000 jobs last year as the construction sector continues to contract.
Australia’s construction industry <a target="_blank" href="https://www.propertyobserver.com.au/residential/detached-housing-construction-sector-sinks-into-steepest-decline-in-eight-months-aig/hia-index/2013060762047">notched up three years (36 months)</a> of continuous contraction in May, according to the most recent Australian Industry Group/HIA Australian Performance of Construction Index (Australian PCI).
Earlier plans were for the company to relocate from 50 Bridge Street to 1 O’Connell Street, but these plans were cancelled after chief executive Mike Kane decided the company did not need to be in the CBD.
AMP Capital and law firm Baker &amp; McKenzie are the anchor tenants in the Bridge Street tower, which is jointly owned by the Australian Core Property Portfolio (ACPP) and the AMP Capital Wholesale Office Fund (AWOF).
CBRE recently reported that Sydney’s office vacancy rate (currently around 6.5%) could <a target="_blank" href="/news">rise due to the amount of office space being sub-leased.</a>
It reported that the amount of sublease space available in Sydney's CBD reached 73,872 square metres in April, the highest in two-and-a-half years, as financial services firms downsized their operations.
'Consolidation' or 'contraction' were the primary reasons for subleasing space with finance and insurance firms accounting for nearly 40,000 square metres of available sublease space followed by property and business services (around 10,000 square metres) and government tenants (10,000 square metres)
More than half the sublease space available (52%), is situated in the city core.
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Boral to ditch Sydney CBD for cheaper suburban office digs: report

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High-yielding retail property investments in Melbourne under $1 million offering attractive tax depreciation benefits remain possible.
A private investor has acquired the ground floor health spa premises of the recently completed Luna Apartments developed in St Kilda.
The 150-square-metre Endota Spa premises at 173-177 Barkly Street were acquired for $955,000 in a deal negotiated by Andrew Ryan and Jeremy Gruzewski of Colliers International.
The sale price equates to a yield of 6.6%.
Endota Spa has a seven year lease over the premises, which commenced in October last year with two further options of seven years.
It is one of five retail offerings in the development.
“This property ticked the boxes of, strong tenancy covenant, long term lease with options, inbuilt rental growth and depreciation benefits,” says Ryan.
Endota Spa was founded in 2000 and since expanded nationally with health spas in every state and territory.
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St Kilda Endota spa premises sells to private investor on 6.6% yield with tax depreciation benefits

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Winning Appliances have listed their redundant Silverwater warehouse.
The property at <a target="_blank" href="https://www.gjsproperty.com.au/sales/SILVERWATER/8922.aspx">2-16 Salisbury Street</a> has been listed by Angus Grier at GJS Property.
"It's an impressive industry facility," Angus Grier said.
It is located on a 9414 square metre holding on the corner of Salisbury, Vore and Carnarvon Street in close proximity to the major arterial road network being Silverwater Road, the M4 Motorway, Great Western Highway and Victoria Road.
There is warehouse spaces covering 4117 square metre plus another covering 1944 square metre, plus 1000 square metre office space.
Winning intend leasing it back at $67,000 a month until March 2014.
Winning has outgrown the space.
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Winning Appliances list redundant Silverwater warehouse

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The median weekly rent in Melbourne increased in the month of May as the rental vacancy rate slightly tightened, according to REIV.
The rental vacancy rate in Melbourne fell from 3.2% in April to 2.8%.
The weekly rent increased from $382 to $390.
The REIV says these are only “minor variations” as the rental vacancy rate has remained relatively stable at around 3% throughout the year and the median rent has been around $390.
The REIV says the government policies designed to increase the supply of dwellings are having an effect as we are seeing consistently high vacancy rates.
The inner city rental vacancy rate tightened from 4.4% in April to 3.9% in May.
The demand for three-bedroom homes and one or two bedroom units in the inner city has seen the median rent rise.
The rental vacancy rate in the middle suburbs remained stabled at 3% over May, however the outer suburbs tightened from 2.8% to 2.2%.
Regional Victoria rental vacancy rates increased from 3.3% in April to 4.1% in May, with Geelong experiencing the most significant change.
Geelong rental vacancy rates increased from 4.4% in April to 6.7% in May.
Bendigo remained stable at 3.1% but Ballarat increased from 2.2% to 2.7%.
The median rents in regional Victoria remained stable.
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